- Reuters
US private payrolls rise less than expected in May - ADP
Private payrolls increased by 152,000 jobs last month after rising by a downwardly revised 188,000 in April, the ADP Employment report showed. Economists polled by Reuters had forecast private employment increasing by 175,000 last month. The report was the latest indication that employment is not buckling under the weight of 525 basis points of interest rate increases from the Federal Reserve since March 2022, although other data has shown the job market is coming into better balance.
- Investor's Business Daily
Soft ADP Jobs Report Supports Fed Rate-Cut Hopes
The ADP jobs report continued the trend of weaker-than-expected data that's lifted Fed rate-cut odds and growth fears. The ISM services index is on tap.
- Investor's Business Daily
Is Rivian Stock A Buy Or A Sell As Tesla Bull Sees The EV Startup 'Uniquely Positioned Within Autos'?
Rivian Automotive is looking to challenge Tesla, Ford and General Motors with its adventure-styled electric vehicles. Adam Jonas, Morgan Stanley's high-profile autos analyst, met with Rivian management in late May. The analyst came away from the gathering with the belief that Rivian is "uniquely positioned within autos (other than Tesla) on scaling a fully integrated software stack critical to unlocking the AI opportunity." "At a market value 1/60 that of Tesla," Jonas added.
